The patterns are working very well, especially the J-Hook pattern. With the magnitude of the market move over the past two trading days, expect some profit-taking. However, as long as the indexes continue to produce J-hook patterns in trading well above the T-line, the probabilities remain strong that wave three of the J-Hook pattern is in progress.
April 7th Daily Market Comments
The patterns are working very well, especially the J-Hook pattern. With the magnitude of the market move over the past two trading days, expect some profit-taking. However, as long as the indexes continue to produce J-hook patterns in trading well above the T-line, the probabilities remain strong that wave three of the J-Hook pattern is in progress.